Acg 3401 exam 2 review Study guides, Class notes & Summaries

ACG 3401 Exam 2 Review questions and answers

ACG 3401 Exam 2 Review

ACG 3401 Exam 2 Review (1)

ACG 3401 Exam 2 Review Questions With Correct Answers What is taken out of paycheck? - answerIncome Tax, Social Security, and Medicare Federal Income Tax System - answerFile 1040 to gov. at end of every year; pay as you go system (each day you work, some money is taken out of paycheck); calculate fed. tax: if you paid more you get a refund, if you paid less you have to pay the rest Circular E - answerbig book of tables that shows how much is going to be taken out of your check for federal...

ACG 3401 Exam 3 Review Questions With Correct Answers Procurement/Expenditure Cycle - answer1. Purchase Requisition 2. Purchasing 3. Receiving/Inspection 4. Accounts Payable 5. Cash Disbursements Split Expenditure Cycle - answerPhysical Phase (Purchasing) and Financial Phase (Cash Disbursements) - split caused by time lag Payroll Cycle - answerkept separate from other cash disbursements Periodic Method - answerwhat everybody mostly uses; take a physical count of goods at end of year;...